Colorado Springs Real Estate

Did you know that at least 35.8% of homes are owner-occupied with a mortgage? This study was from 2013, so we’re presuming the numbers may be even higher at this point. 32% of housing is renter-occupied, and 19.9% is owner-occupied without a mortgage. This means that the two most popular options are to either rent and pay money for something you don’t own, or take out a 30-year mortgage and invest in a Colorado Springs home that you own. Thursday, October 19th is Get Smart About Credit Day, so we wanted to share some interesting facts about mortgages with you to help you become better prepared for buying a Colorado Springs home , while also realizing that buying really is the way to go. Types Of Mortgages As with all types of loans, there are different forms of common mortgages that you will need to think about before you get it. Here are three types of mortgages and a short description about them. 30-year Fixed A 30-year fixed is one of the most popular mortgage types. The ...

The decision to buy or rent their next homes has challenged home-seekers for years. Buying a house in Colorado Springs can be a daunting prospect financially, but studies are consistently showing that owning your own home is often just as (if not more ) affordable than renting one. The ultimate decision is of course up to you, but The MacGuire Team is here to offer a few important considerations. Owning Is More Affordable Than You Think Contrary to popular belief, the days of having to have a stellar credit score and a 20% down payment in order to buy a house are long gone. Thanks to varied and competitive mortgage options, buyers are now able to purchase homes with as little as 10%, 5%, 3%, and (in some cases) even 0% down. Interest rates are also at a historic low, which means your monthly mortgage payments can be incredibly affordable. Renting Is More Expensive Than You Think People who don't think they can afford to buy often choose to rent as an alternative,...